Four Himalayan Life Directors Resign, Two New Members Appointed to Board

6th July 2026, Kathmandu

Himalayan Life Insurance Limited has officially announced significant structural changes to the composition of its Board of Directors.

Himalayan Life Directors Resign

The corporate restructuring involves the formal resignation of four existing board members alongside the immediate appointment of two new directors to manage the vacant seats for the remainder of the current leadership tenure.

The administrative transition was finalized during a regular session of the company’s Board of Directors held on July 3, corresponding to Asar 19 on the localized calendar. The sitting board members evaluated the individual exit files and officially approved the transition logs to maintain corporate governance continuity under national insurance guidelines.

DETAILS OF THE FOUR OUTGOING DIRECTORS

The corporate departures spread across both the primary promoter blocks and the public investment factions of the life insurance company. The four individuals who stepped down from their administrative positions include:

• Saurabh Dugad, who served on the board as a formal representative of the institutional founder shareholder group.
• Pramila K.C., who held a seat as an elected corporate representative for the general public shareholders.
• Sachin Acharya, who actively participated in board decisions on behalf of the public shareholder block.
• Ashish Dhakal, who similarly managed corporate oversight as a representative for the public investment group.

The internal board formally accepted these resignations during the meeting, acknowledging their professional contributions toward stabilizing the company’s financial metrics following its historical multi-corporate merger phase.

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APPOINTMENT OF TWO NEW BOARD MEMBERS

To fill the vacant administrative seats and safeguard the strategic planning workflow, the board selected two incoming financial professionals. The new appointees will manage their respective positions for the remaining term, with their names set to be presented for final ratification at the company’s upcoming Annual General Meeting:

• Prakash Muni Bajracharya: A permanent resident of Ward Number 18, Kathmandu Metropolitan City, he has been appointed to the board as the new representative for the institutional founder shareholder group.
• Surakshya Kafle: Originally hailing from Ward Number 7, Waling Municipality, Syangja, and currently residing in Ward Number 23, Lalitpur Metropolitan City, she enters the board as the new representative for the general public shareholders.

The corporate planning department confirmed that both individuals possess extensive background exposure in corporate management, which will help the non-life operator navigate tight asset requirements.

REGULATORY ALIGNMENT AND STRATEGIC DIRECTION

Company Secretary Bikash Basnet formally verified the board’s structural decisions, noting that the corporate updates have been filed with the national insurance registry for institutional compliance tracking. The corporate appointments will become fully effective under long-term frameworks once the general investors cast their official approval votes at the next general assembly.

Himalayan Life Insurance Limited continues to optimize its market positioning by aligning its corporate governance with the rigorous financial benchmarks enforced by the Nepal Insurance Authority. By filling these vital leadership positions with experienced professionals, the executive management team aims to accelerate its digital transformation goals, expand its micro-insurance networks across rural provinces, and protect long-term stakeholder capital.

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